Powerlaw Corp. Lifts the Hood on Its Portfolio: SpaceX Is 27% of NAV, and Two AI/Defense Names Join the Roster
PWRL is trading near its 52-week low of $12.585 (4.1% above the low).
Summary
Powerlaw Corp. filed a prospectus supplement detailing its portfolio as of June 30, 2026, including a 27% NAV position in SpaceX and new investments in AI/defense companies Prometheus Industries and Shield AI.
Key Events · Financing and Capital Events · PWRL
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Portfolio Holdings Disclosed
As of June 30, 2026, the fund held 19 portfolio companies with a total fair value of $556.2M, representing 79.36% of net assets. Top holdings include SpaceX (27.04% of NAV), OpenAI (6.69%), and Kalshi (5.40%).
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New Investments Added
Between May 13 and June 30, 2026, the fund acquired stakes in Prometheus Industries (AI-driven engineering, $15.7M fair value) and Shield AI (autonomous defense systems, $25.1M fair value), expanding its AI and defense exposure.
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NAV Context
The fund's net asset value per share was $16.21 as of June 30, 2026, implying the stock trades at a discount to NAV. The portfolio update provides granularity on the underlying assets backing that NAV.
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Trading Near 52-Week Low
With the stock at $13.10, near its 52-week low of $12.58, the detailed portfolio disclosure may help investors evaluate whether the discount to NAV is justified given the quality and concentration of holdings.
Analysis · PWRL · Unknown
A newly filed prospectus supplement lays out Powerlaw's portfolio as of June 30, 2026, showing a total fair value of $556M against net assets. The largest position, SpaceX, accounts for 27% of NAV, with OpenAI next at 6.7%. Two fresh additions—Prometheus Industries, an AI-driven engineering firm, and Shield AI, a specialist in autonomous defense systems—broaden the fund's exposure to high-growth private technology. For a closed-end fund trading near its 52-week low, this level of transparency into holdings and recent acquisitions gives investors a clearer lens to assess the discount to NAV and the quality of the underlying portfolio.
At the time of this filing, PWRL was trading at $13.10 on NASDAQ in the Unknown sector, with a market capitalization of approximately $566.5M. The 52-week trading range was $12.58 to $40.00. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.